Annual Report to Shareholders
Three major milestones reached included:
1. Demonstrating that Lilac Solutions' direct lithium extraction (DLE) operates successfully using Lake's Kachi Project brines, producing high quality lithium chloride at pilot module scale;
2. Delivering high purity lithium carbonate samples at both lab scale and pilot module scale (post year-end) from high quality lithium chloride produced at pilot module scale from Kachi brines;
3. Exhibiting the cost competitive nature of Lilac's DLE at the Kachi Project with a high value, high margin Pre-Feasibility Study (PFS) using conservative commodity prices.
Lake has a major expandable resource at the Kachi project and has been working with Lilac and their DLE process for over two years as a way of efficiently developing the project. The benefit of Lilac's DLE process, an adaptation of known water treatment called ion exchange,. is that there is no mining, just efficient, rapid, extraction of lithium from lithium bearing salty brines at the Kachi project in hours instead of months or years. Further, the process returns virtually all the brine back to its source without changing the chemistry, except for the removal of lithium, which produces a high purity product. This is a more sustainable, responsibly sourced method than conventional evaporation with a smaller environmental footprint.
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About Lake Resources NL
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.
This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Lake Resources NL